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Close inactive credit cards
I have many credit cards but only 4 that are active. I don't ever carry debt and my 4 have a long history. Should I close all others that I don't use even though they have long histories also?

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Have Credit Cards You're Not Using?

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Greetings.  "ma26ko5" And, all others

A.A.A. means Average Account Age.

This is a factor of our score that is often, misunderstood and therefore advice and tips can be improper.

When we establish a line of credit, a date is created reflecting the opening of this account. And, that date, stays on our files until the entire item is deleted; regardless if there's a balance. So, closing accounts Will Not affect your A.A.A.; It's actually, the opening of New accounts that affects our A.A.A.. And, the establishing of new accounts can lower our scores temporarily because of the inquiries.

However, an area used to calculate our scores, called Utilization, has the second largest impact on them. To calculate this, ALL scoring systems (Vantage, FICO, etc.), adds together, our listed Credit Limits, (some credit cards do not list limits on our reports) then minus what we have used of that amount. And, the resulting figure, genterates what is officially called: Utilization Percentage. The lower this percentage number is, the more positive influence it has, on our score.  

Now, when we close ANY account that have a Listed amount of Credit on our files, the scoring system, no longer has this amount to add into our overall Limits. And, thus, the Ultilaztion Percentage number, will, by defult, rise. And, this has a negetive influence on our score.

So, unless you can get higher limits on the accounts you want to keep, closing other accounts can lower your score. But, only because we lose the reporting of the credit limit, Not because of the Account Age.

I hope this is helpful... God bless.

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No.  It will hurt your scores if you close them.  Just use them once a year to keep them alive.  Buy a tank of gas, dinner, whatever.  Pay it right off and put them back in the drawer.  Don't get rid of them!!!  Good history is so hard to come by.  

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closed credit card

if a credit card status says its closed do i still pay on it ?

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